III. Industry Analysis

Blockchain technology will allow devices to communicate directly, reducing the need for additional monitoring systems.

• The blockchain technology market accounted for $5.7 billion in 2021 and is estimated to surpass around $1.59 trillion by 2030, at a CAGR of 87.1% from 2022 to 2030.¹
• The validation of cryptocurrency reassures businesses and investors to invest more in blockchain technology.

 

• The global decentralized finance market was valued at $11.78 billion in 2021 and is expected to expand at a CAGR of 42.5% from 2022 to 2030. ²
• One of the main factors influencing market growth is the financial sector’s significant shift due to the adoption of DeFi (Decentralized Finance). Over the past five years, interest has grown in how DeFi and decentralized platforms interact on the blockchain.
• DAOs are already significant, with a nearly $13 billion market valuation. ³

 

1.https://www.globenewswire.com/en/news-release/2022/10/06/2529706/0/en/Blockchain-Technology-Market-Size-to-Surpass-USD-1-59-Trillion-by-2030.html#:~:text=The%20blockchain%20technology%20market%20size,2030%2C%20according%20to%20precedence%20research.&text=Ottawa%2C%20Oct.
2.https://www.grandviewresearch.com/industry-analysis/decentralized-finance-market-report
3.https://economictimes.indiatimes.com/markets/cryptocurrency/dao-explained-types-key-characteristics-flipsides/articleshow/89040222.cms